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Toptrendline

Fetch A.I. nearing the top trendline of its falling wedgeNot sure how long it will take it to break upward from this wedge so the measured move line and breakout target is currently placed in an arbitrary location that will obviously need adjusted to wherever it legitimately breaks up from. Not exactly sure how this chart will be effected by the merger of fetch, singularity nd the other ai chain merge. Wil have to wait and see. Will update this chart whenever we get a legitimate breakout. *not financial advice*
COINBASE:FETUSD
by DrDovetail
3
Is gold finally ready to breakout from the pink channel/flag?You can see here on this chart how gold seems confidently above the pink trendline but you can also see to the left of that that we were above this line once before not too long ago and that resulted in a big wick and dip back below the trendline to correct for awhile, as is often the case whenever an any asset breaks above a key trendline like this for the 1st time…now that it is the second time above it and it seems to be holding much better support as of now the chances of this being the breach of the trendline that triggers the breakout is much better with a much higher probability, though there is still some lesser probability for it to go back below the trendline once twice or even thrice again. With each time it goes back below the trendline, the odds of the very next breach up above the trendline being the one that validates the breakout begin to increase exponentially. The current one looks confident enough that its very plausible we could see the breakout validated this go-around, so I’m going to post a chart of this idea with the measured move lines adjusted accordingly to reflect this current spot s the breakout point just so I can more easily keep tabs on it in the coming weeks ahead. *not financial advice*
OANDA:XAUUSD
by DrDovetail
Link breaking above last potential top trendline of triangleIt’s still unclear whether or not link’s macro pattern is more valid as a falling wedge or a symmetrical triangle, however it seems now that we are finally closing daily candles above the last potential top trendline for that pattern. That trendline is most valid on the weekly chart so we still need to close the current weekly candle above the white trendline..after that we should see the follow up weekly candle confirm the white trendline as support on a retest ….if the follow up weekly candle closes above the white trendline odds are very good at that point the breakout will be validated…it may wait until the 3rd weekly candle to start the bullish impulse…or it could come as early as the current weekly candle…will have to see how the next few weekly candles play out. I chose to show this chart on the daily time frame instead of the weekly to illustrate how price action is also now back above both the 1 day 50 and 200 moving averages. If it can hold the daily 200ma as support during the next few weekly closes then the breakout will be confirmed. *not financial advice*
COINBASE:LINKUSD
by DrDovetail
Xrp poking above top trendline of channel. Target $1.85This will take price to $1.85 but only if price action can solidify the top trendline of this channel as solidified support. As for now I’m not sold on the notion that is support yet. Need to see either a huge volume surge or possibly 1 or 2 weekly candles close above the top trendline to solidify the support first. It looks good but since there’s always a possibility of it dumping back into the channel I will be awaiting more confirmation candles first and leaving this idea neutral even though I am currently leaning more to the bullish outcome. *not financial advice*
KRAKEN:XRPUSD
by DrDovetail
2
Dblbottom neckline support vs. Logscale top trendline resistanceXRP gave us a tremendous breakout fakeout on the previous 1 day candle but closed above the neckline of the double bottom which is a very bullish sign...however we also closed under his pink descending trendline which is potentially the real top trendline of the descending triangle we've been in since back when the bear market got started. This trendline had been hiding on the log scale but could end up being the true most valid top trendline of the descending triangle pattern on the weekly chart. We can tell its pretty valid to some degree especially if it was able to both halt and reverse such a great looking breakout like yesterday's 1 day candle which its resistance found a way to flip from a breakout to a fakeout. They may have been satiated by the weak hands they shook though because even though price action was pushed back below the pink logscale descending top trendline, it still managed o close above the double bottom. So for now it is likely gonna be one of those heavyweight head to head battles between the support of the double bottom's neckline and the resistance of the logscale's pink trendline. As long as the current 1 day candle can find a way to close above the double bottom's neckline as well that should trigger a breakout and give us the proper momentum needed to finally break through the pink trendline's resistance. If it happens to be the true top trendline, the breakout target can take us to $1.75. The double bottom's breakout target is 59 cents so reaching 59 cents should sustain price action above the pink trendline long enough to trigger a breakout up from it as well. . .but I'm no financial advisor just throwing out opinions.
BITFINEX:XRPUSDLong
by DrDovetail
1